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Finnish firm sets up new unit as acquisition of healthcare kit maker Withings closes.
Nokia on Tuesday announced it has completed the acquisition of m-health device maker Withings and created a new Digital Health unit within its organisation as a result.
The closure of the deal comes ahead of schedule. The Finnish equipment maker unveiled plans to buy Withings just over a month ago and at the time said it expected to complete the acquisition in the third quarter.
The deal values France-headquartered Withings at €170 million, Nokia said in April.
"This is the beginning of an exciting new chapter in the history of Nokia Technologies as we extend our product portfolio to include a series of powerful digital health technologies," said Ramzi Haidamus, president of Nokia Technologies, in a statement.
"The acquisition of Withings puts us in a perfect position to capitalize on the huge opportunity in the health space," he said.
Withings CEO Cédric Hutchings will head up the new Digital Health business unit at Nokia and will report to Haidamus.
Nokia said the new unit brings together Withings’ employees with staff from its own preventive health and patient care teams which already operate under the Nokia Technologies umbrella.
The vendor also gains Withings’ existing products, which include activity trackers, smart body analyser scales, thermometers, blood pressure monitors, and home and baby monitors, as well as the digital health platform that underpins them.
